Although market closed positive on 03-04-2012 but we told weakness in Firstly Very Short Term Down Moves as well as told following lines on 03-04-2012 at 06:59:00 PM
1- As good selling seen at higher levels therefore expected that Nifty will firstly slip below today lower levels
2- Until complete consolidation patterns will not develop till then Nifty will not sustain above 5377 and minimum very short term down moves are firstly expected in the coming sessions.
Correction is on Nifty is trading between 5245-5363 for the last 3 hours after weak opening,strong supports below this range between 5175-5236. As patterns within this range have not given any decisive signals yet therefore firstly break out of this range will be watched for next moves first indication.
1- As good selling seen at higher levels therefore expected that Nifty will firstly slip below today lower levels
2- Until complete consolidation patterns will not develop till then Nifty will not sustain above 5377 and minimum very short term down moves are firstly expected in the coming sessions.
Correction is on Nifty is trading between 5245-5363 for the last 3 hours after weak opening,strong supports below this range between 5175-5236. As patterns within this range have not given any decisive signals yet therefore firstly break out of this range will be watched for next moves first indication.